Just out of curiosity really, where is the default 0,0,0 position? Is it to where the gameobject is? In the gamespace? and if i have a child object set to a parent object, is that childs 0,0,0 position set to the parents position? Or in the gamespace?
Depends.
A game object can have a world position and a local position.
The local position depends on its parent, so if it has a local position of (10,0,0) and the parent has a world position at (0,5,0), then the child would have a world position at (10,5,0).
The default 0,0,0 position is set in what is known as ‘world space’.
So if you add an object, at 0,0,0, you can say its position is in 0,0,0 in world space.
If you move it to 5,5,5 in world space, and then add a child object to it, the child’s local position will be its offset to the position of the parent.